What Is A Seed Phrase?

What Is A Seed Phrase?

A seed phrase, people may also call it as recovery seed, recovery phrase, wallet backup, mnemonic seed, recovery key, seed key, etc., is a collection of words generated by your cryptocurrency that allow you to access your cryptocurrency wallet. In daily life, you may create a series of words to describe something, that's called mnemonic seed or mnemonic phrase. A seed phrase in a way is some kind of mnemonic seed. It is an ordered set of 12-24 words(such as "tear", "terrible", "street", "liberty", "pretty" ,or "candy" )that are randomly generated by your wallet. Your wallet also uses the seed phrase to create private keys, which can be used to send or spend your crypto. If you are unable to access your wallet because the wallet is misplaced, theft, or damage, a seed phrase can be loaded into any BIP32-compatible wallet to recover your funds. However, if you delete or lost your seed phrase and private key, you will never find your assets back.

How to Use a Seed Phrase? How Does It Work?

• When setting up your crypto wallet, a seed phrase is usually generated. The 12-24 words are chosen from a list of 2,048 simple words on the BIP39( a standard for a "deterministic wallet" that makes one seed phrase determine all of the private keys held in the wallet) wordlist, meaning that a series of 12 words would have 128 bits of security.

• Since major wallets follow the BIP39 standard, if you want to switch wallets, you can just enter your seed phrase into the new wallet and your crypto will be available there.

• As long as you still have your seed phrase, if you lose or delete a wallet(no matter hot or cold wallet), you can even restore your funds right away--once you have a new wallet, you can enter your seed phrase in the wallet and your private keys and cryptos will be yours again.

• They can be used to generate more than one key from a master one which can avoid address reuse because people can use a seed phrase to create a seemingly infinite number of receiving addresses.

Why Should You Store Seed Phrase Safely?

Because of the decentralization feature of cryptocurrency, there are no central banks to custody your funds. You are unable to rely on a bank or other institution to store your digital assets safely. So a seed phrase is generated algorithmically and is used to identity asset belongs. That means If you delete or lose your wallet without carefully saving your seed phrase, you lose access to your crypto. It is important to keep your seed phrase from hackers or lost.

Can You Use A Seed Phrase in Any Wallet?

You can use a seed phase in any wallet that is based on the same protocol. Many of the well-known crypto-wallets are based on the BIP39 protocol. A seed phrase can be entered into any other wallet using the same BIP. Please be aware that it is possible for your tokens to be on more than one wallet at once.

How to Securely Store Your Seed Phrase?

• Use a paper wallet, you can write down your seed phrase and private key on a piece of paper and store it in a safe and secure location, such as a safe box.

• Use metal, you can engrave your seed phrase and private key on steel plates or other durable metals.

• Create extra copies, you can write more than one copy of your seed phrase and private key and store them in different places.

Most importantly, never store your seed phrase on any application or device that is connected to the internet. Storing them offline is the safest option.

Is a Seed Phrase the Same as a Private Key?

• A private key is a series of alphanumeric characters that give you access and total control over your cryptocurrencies. People use a private key to sign transactions, spend and send crypto coins to others in the world.
• The seed phrase is a list of random words (12- 24 in number) used to recover your funds in case you lose your wallet's password or the device where your wallet is installed. It allows you to access your wallet and all the private keys in the wallet.

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